Fomento Economico Mexicano S.A.B. de C.V. $FMX Position Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 38.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,436,130 shares of the company’s stock after selling 907,541 shares during the quarter. JPMorgan Chase & Co.’s holdings in Fomento Economico Mexicano were worth $141,646,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its stake in Fomento Economico Mexicano by 2,006.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in Fomento Economico Mexicano in the second quarter valued at approximately $40,000. Tower Research Capital LLC TRC grew its holdings in shares of Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after purchasing an additional 131 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Fomento Economico Mexicano during the 3rd quarter worth approximately $54,000. Finally, MAI Capital Management lifted its holdings in shares of Fomento Economico Mexicano by 131.1% in the 2nd quarter. MAI Capital Management now owns 788 shares of the company’s stock worth $81,000 after purchasing an additional 447 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Up 1.3%

Shares of FMX opened at $113.63 on Friday. Fomento Economico Mexicano S.A.B. de C.V. has a one year low of $83.08 and a one year high of $116.09. The stock’s fifty day moving average is $105.48 and its 200-day moving average is $97.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.90.

Fomento Economico Mexicano Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were given a dividend of $2.0531 per share. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, January 16th. This represents a $8.21 dividend on an annualized basis and a dividend yield of 7.2%. Fomento Economico Mexicano’s payout ratio is presently 91.94%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FMX shares. The Goldman Sachs Group boosted their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Zacks Research raised shares of Fomento Economico Mexicano from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Thursday, January 22nd. Finally, Barclays lifted their price objective on shares of Fomento Economico Mexicano from $105.00 to $116.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 10th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Fomento Economico Mexicano has an average rating of “Hold” and an average target price of $108.50.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.